Analysis of Two Housing Market Areas

From: HUD USER News
 
HUD USER has posted new Comprehensive Housing Market
Analysis reports for the Dallas, Texas and Las Vegas-
Paradise, Nevada housing market areas (HMAs). These
reports show that during the 12 months ending February
2009:
 
In Dallas...
 
o The average home price fell less than 1.0 percent;
 
o New and existing home sales decreased 17 percent;
and
 
o The rental market had a high rate of vacancies,
ranging from 10-13 percent across the area's three
counties.
 
In Las Vegas-Paradise...
 
o The median sales price of existing homes decreased
28 percent;
 
o New and existing home sales increased 41 percent;
 
o The rental market had a high rate of vacancies at
9.6 percent; and
 
o Nonfarm employment declined 2.1 percent.
 
Compiled by field economists in HUD's Office of Policy
Development and Research, the Comprehensive Housing
Market Analysis reports present economic, demographic,
and housing inventory data useful in foreseeing
changes in housing trends and conditions. Data in
these two housing market analyses cover the most
recent 12 months, as well as the periods from 1990 to
2000, 2000 through February 2009, and a projected
three-year period from March 1, 2009 to March 1, 2012.
These and all other HMA reports produced by HUD's
Office of Policy Development and Research are available
at www.huduser.gov/portal/publications/econdev/mkt_analysis.html
and can be downloaded at no cost.
 
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